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The annual Exercise Club membership fees of $ 2 5 0 0 are due on January 3 1 , 2 0 1 8 . Club

The annual Exercise Club membership fees of $2500 are due on January 31,2018. Club management offers a
reduction of membership fees of 19.6% p.a. to members who pay the dues by January 16,2018. How much must a
member pay on January 16,2018, if she chooses to take advantage of the club management's offer?
She must pay $2480.02.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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